Keywords

bankruptcy

Bankrupt French airline Aigle Azur, which operated scheduled service to domestic and tourist destinations within France, Portugal and North Africa, has attracted more than a dozen bids from shareholders and rival carriers.
Aigle Azur, France's second-largest airline, operated an all-leased fleet...

Jack Cooper Ventures says it will be "business as usual" as the auto hauler undertakes a restructuring.
As the Teamsters signaled earlier today in a note to its members, Jack Cooper did file for Chapter 11 protection on August 6 under the federal bankruptcy code in the Northern District of...

Legacy Reserves Inc (NASDAQ: LGCY) has made a Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas.
Chapter 11 generally provides for reorganization and usually involves a corporation or partnership. A Chapter 11 debtor usually proposes a plan of...

A Durham, North Carolina-based logistics company filed for Chapter 11 bankruptcy reorganization on June 13.
C. Brent Smith, owner of Crystal Transportation Services of NC, doing business as Guardian Logistics Services, cited two major hurricanes that hit the Eastern and Coastal areas in 2018 as...

Last month when IPS Worldwide, an Ormond Beach, Florida-based freight audit and payment services provider, filed a petition for Chapter 11 bankruptcy protection, details were somewhat scanty. A payments company with assets worth less than $50,000 had managed to accrue liabilities of between $100...

Payless has filed for Chapter 11 bankruptcy protection and announced plans to close all of its roughly 2,500 North American stores. Payless’ second bankruptcy filing in two years and the store closure announcement may spell the end of the line for the long-lived American shoe retailer.
Case...

TFI international wants to bolster its U.S. last-mile business with the assets of BEAVEX.
Canada's TFI international Inc. hopes to expand its last-mile footprint by offering to purchase the assets of Atlanta-based courier BeavEx, which filed for bankruptcy protection on Monday, February 18....

There are over 10,000 securities that trade on the OTC Markets, which is segmented into multiple tiers: the OTCQX Best Market, the OTCQB Venture Market, and the Pink Market.
A wide spectrum of companies trade on the Pink Market, including foreign companies that limit their disclosure in the U.S.,...

Nearly one-third of U.S. lottery winners declare bankruptcy, often within just a few years of their big win, according to a study by Wolf Street. After sizable tax obligations, lavish spending decisions and prior monetary commitments to friends, family, or the clerk at the liquor store, winning the...

Sears Holdings Corp (NASDAQ: SHLD)'s years-long struggle in a tough retail environment culminated in the department store filing for Chapter 11 bankruptcy protection this week.
A Chapter 11 bankruptcy facilitates reorganization of a company through a plan to keep its business alive and pay...

Over the last five years, Sears Holdings Corp (NASDAQ: SHLD)'s stock has fallen nearly 100 percent. Now, near it’s seeming nadir, Sears continues to plummet.
What Happened
On Monday, management declared Chapter 11 bankruptcy and announced an immediate CEO change for the 126-year-old...

When Detroit went bankrupt five years ago, the city was “using credit cards to pay credit cards,” in the words of former City Councilwoman Sheila Cockrel, who participated in a panel Wednesday that marked the anniversary of the filing of the $18-billion Chapter 9 case.
The bankruptcy...

The largest American radio broadcaster, iHeart Media, said Wednesday it has reached an agreement in principle with its debt holders and financial sponsors that would allow it to continue operating its business, The Wall Street Journal reported.
What Happened
The agreement allows iHeartRadio...